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RUA GOLD to acquire Siren Gold’s Reefton assets and become the dominant Reefton Goldfield explorer.

Actively Advancing a District-Scale Discovery in a Tier 1 Jurisdiction:

  • Represents the next chapter in RUA GOLD’s development towards our goal to be a major gold producer in New Zealand.
  • Newly consolidated project represents one of the least explored, high-grade gold districts in the world.
  • Permits, access, and consents in place to be aggressively drilling following a district-wide reassessment of targets and potential on the combined land package.
  • The combination will increase from the tenement holding from ~34k hectares (ha) to ~120k ha and cover all known past production camps outside of Blackwater and the Globe Progress mine.
  • Potential for lower overall project capital expenditures through the development of a potential central processing hub.
  • Combination creates a bigger player in New Zealand, allowing greater opportunity to work alongside a pro-mining Government in helping them draft their Minerals Strategy for New Zealand.

Transaction Highlights

Under the terms of the Agreement, Siren shall receive:

A$2 million (C$1.8 million) in cash, of which A$1 million has been paid and the remaining A$1 million will be paid at the close of the Transaction; and

83,927,383 fully paid shares of RUA GOLD representing A$18 million (C$16.6 million[1]), to be issued at the close of the Transaction with agreed contractual resale restrictions.

 

Company Shareholders

The Transaction will deliver the following benefits to the Company’s shareholders:

Increased scale and resources by combining projects and exploration teams.

Increased exposure to the highly prospective and under-explored Reefton Goldfield, as the largest landholder in the district with ~120k ha of combined tenements.

The tenements owned by Reefton host a total JORC-compliant inferred mineral resource estimate (at a 1.5 g/t Au cut-off grade) containing 444koz Au @ 3.81g/t Au and 8.7kt Sb @ 1.5% Sb[2] with the excellent opportunity to define further mineralization with aggressive exploration across the combined land package.

Improved investor visibility and positioning amongst peers; with the opportunity to broaden shareholder base.

High probability of future operational synergies (i.e., centralized infrastructure and workforce) by realizing economies of scale across the whole land package.

Continued exposure to the Company’s highly prospective asset, Glamorgan on the North Island of New Zealand.

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